Park Avenue Securities LLC Reduces Holdings in Zillow Group, Inc. (NASDAQ:Z)

Park Avenue Securities LLC cut its stake in Zillow Group, Inc. (NASDAQ:Z) by 10.8% in the third quarter, Holdings Channel.com reports. The fund owned 8,923 shares of the financial services provider’s stock after selling 1,083 shares during the quarter. Park Avenue Securities LLC’s holdings in Zillow Group were worth $570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Concord Wealth Partners acquired a new stake in shares of Zillow Group in the first quarter valued at approximately $26,000. Larson Financial Group LLC boosted its stake in Zillow Group by 364.4% during the 2nd quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 481 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Zillow Group during the 1st quarter worth $37,000. Mather Group LLC. purchased a new position in Zillow Group during the 1st quarter worth $62,000. Finally, Quarry LP acquired a new position in Zillow Group in the second quarter valued at $61,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Activity at Zillow Group

In other news, General Counsel Bradley D. Owens sold 752 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total transaction of $39,953.76. Following the sale, the general counsel now owns 35,259 shares of the company’s stock, valued at $1,873,310.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Bradley D. Owens sold 752 shares of Zillow Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total transaction of $39,953.76. Following the completion of the transaction, the general counsel now owns 35,259 shares of the company’s stock, valued at $1,873,310.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Lloyd D. Frink sold 150,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the completion of the sale, the chairman now owns 582 shares in the company, valued at $29,583.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,999 shares of company stock worth $11,780,363 over the last 90 days. Company insiders own 23.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on Z shares. UBS Group upgraded shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Cantor Fitzgerald raised Zillow Group to a “hold” rating in a research report on Thursday, September 5th. Morgan Stanley boosted their target price on Zillow Group from $46.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Finally, Craig Hallum raised shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Zillow Group has an average rating of “Moderate Buy” and a consensus price target of $67.20.

Zillow Group Stock Up 3.5 %

Z opened at $62.75 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. Zillow Group, Inc. has a 12 month low of $33.80 and a 12 month high of $68.73. The stock has a market capitalization of $14.52 billion, a P/E ratio of -102.87 and a beta of 1.95. The business has a 50 day simple moving average of $57.68 and a 200-day simple moving average of $49.70.

Zillow Group (NASDAQ:Z) last released its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. The company had revenue of $572.00 million during the quarter, compared to the consensus estimate of $539.74 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. On average, equities analysts anticipate that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.